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Austria International Oil and Gas Industry News
Read the latest headlines about developments in the international oil and gas industry in Vienna and Austria
OMV Fears Destruction of the Libyan Infrastructure
With the military attack on Libya, the fear that Gaddafi could damage oil production facilities of Western corporations in retaliation increases.
March 22, 2011
Ruttenstorfer: "OMV Stays in Libya '
Despite unpredictable developments, Austrian OMV stays in Libya. Neither are there any changes planned in other Arab countries.
March 10, 2011
OMV Continues Receiving Oil Deliveries from Libya
The Austrian oil and gas company is able to obtain deliveries from Libya in spite of the serious political crisis. Production is however limited.
March 8, 2011
Libya: OMV Foresees no Shortages
The CEO of the Austrian OMV considers not to have underestimated the risks in Libya.
February 24, 2011
Strong Growth in Results for OMV
The Austrian energy company OMV records a strong increase in EBIT as well as profitability.
February 24, 2011
OMV Expects Reduction in Oil Production in Libya
The Austrian energy company, which also operates in Libya, cannot eliminate any possibility of a decline in the oil production anymore.
February 23, 2011
Libya: Withdrawal of Austrian Companies
Most Austrian companies are getting their employees out as the result of violent riots in Libya.
February 22, 2011
Southstream: Gazprom-OMV Cooperation
OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.
February 22, 2011
OMV Observes Riots in Libya and Yemen „thoroughly“
The Austrian oil company OMV is not concerned by the current turmoils in Libya and Yemen. However, OMV watches the incidents permanently.
February 21, 2011
OMV Closes Acquisition of Pioneer’s Subsidiaries in Tunisia
OMV paid $ 800m plus $ 39.3m working capital and remains committed to maintaining a strong investment grade
February 19, 2011
EU Requests Nabucco to Enter a Cooperation
The European Union is pushing a merger between Nabucco and the ITGI pipeline project.
February 18, 2011
OMV: "Turkey as a Bridge for Oil and Gas Wells in the region"
The Austrian oil company, which has already invested € 2.0bn in Turkey, considers the location a starting point for the Middle East.
February 17, 2011
Increase in Electricity and Gas Consumption
Austrian electricity consumption rises to the level before the economic crisis. Gas consumption is also showing a new record.
February 16, 2011
Oil Production Declined in Austria
Domestic oil production fell last year by 3.3% to 965,112 tons. Gas production increased however.
February 16, 2011
Market Adjustments at the Gas Stations Business
Doppler, the largest private operator of gas stations in Austria predicts a decline in the gas station network.
February 11, 2011
OMV Capital Increase Likely
Due to massive acquisitions in recent months, the Austrian OMV has to refinance. A capital increase is the most favorable option.
February 9, 2011
Purchase of Petrol Ofisi Lowers OMV´s Results
In its Trading Statement Q4/10, OMV announces extraordinary expenses due to the major purchase of the Turkish Petrol Ofisi amounting to € 170m.
February 5, 2011
OMV Sells OMV Wärme VertriebsgmbH
The buyer is a consortium led by RWA Raiffeisen Ware Austria AG. The Austrian energy company OMV regards its heating oil business as being restructured.
February 5, 2011
Oettinger Increases Pressure on OMV
In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.
February 4, 2011
Ruttenstorfer Acquitted
The trial against Ruttenstorfer, CEO of the Austrian oil company OMV took place yesterday. Ruttenstorfer had been charged for insider trading.
January 28, 2011
Slow Progress for Nabucco
The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.
January 26, 2011
Ruttenstorfer Fine Confirmed
The fine imposed to the CEO of Austrian OMV, Wolfgang Ruttenstorfer, for market manipulation, remains standing.
January 22, 2011
ADX Energy Ltd Continues Operations in Tunisia
The Australian/Austrian ADX Energy Limited (ASX:ADX) announced to continue its operations in Tunisia
January 19, 2011
OMV Pulls its Staff out of Tunisia
Due to the recent developments in Tunisia, the Austrian OMV pulls back to a large extent. The cardboard manufacturer Mayr-Melnhof stays on.
January 18, 2011
New Charges against Ruttenstorfer
The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011
New Perspectives for Nabucco
The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011
Turkish Electricity Market Threatens to Collapse
The increasing energy demand in Turkey is facing a lack of infrastructure. Austrian Verbund will expand its investments.
January 13, 2011
Energie Steiermark Acquires Majority Stake of Gas Supplier in Belgrade
67% of Serbian Beogas are being taken over by the Styrian energy company.The concession covers a service area in the Serbian capital, with over 400,000 customers.
January 10, 2011
OMV: Moody´s Warns Against Downgrade
The Austrian energy group has to refinance its acquisitions in Turkey and Tunisia. The American rating agency puts pressure on OMV.
January 10, 2011
OMV: Market Predicts Capital Increase
Due to acquisitions and the rating situation, analysts expect a capital increase of Austria's energy group.
January 7, 2011
OMV Expands in Tunisia
OMV acquires Tunisian Exploration and Production (E&P) subsidiaries of Pioneer Natural Resources for $ 800m plus working capital.
January 6, 2011
Italian Support for Nabucco
The Italian power company Edison cooperates with the Nabucco gas pipeline project. The aim is to create synergies.
December 28, 2010
Further Rise in Energy Prices for Households
Austrian energy prices in November 2010 were higher by 5.8% compared to the previous year. Only gas became cheaper.
December 27, 2010
Slight fall in profits at Wien Energie
The municipal energy supplier achieved in the last fiscal year mostly stable results. Sales remained virtually unchanged.
December 24, 2010
OMV Gas Project is Delayed
Austria's OMV is involved in a joint venture for a liquid gas project in Croatia. Delays are expected.
December 23, 2010
OMV Closes Acquisition of 54.14% in Petrol Ofisi
OMV, an Austrian energy group, completed the acquisition of a 54.14% stake in Petrol Ofisi A.S.
December 22, 2010
Linz AG: Decrease in Operating Profits
The Upper-Austrian energy supplier experiences a slight increase in sales. Profits declined. However, the board states to be “satisfied”.
December 14, 2010
New Board Member at OMV
Supervisory Board of OMV: Manfred Leitner appointed to the OMV Executive Board with effect from April 1, 2011.
December 14, 2010
OMV: Nabucco Underway as Planned
Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.
December 10, 2010
OMV: Operating Result of Over € 2.0bn Expected
The CEO of the Austrian oil group, Wolfgang Ruttenstorfer says: "2010 was a good year for OMV”.
December 10, 2010
Romania Sells Stake in Petrom
The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.
December 7, 2010
OMV CEO: Insider-process on January27
While the trial date for the CEO of OMV has already been set, many leading personalities express their trust in an open letter.
December 2, 2010
Renewable Energy: Great Potential, but Halted by Politicians
The Umweltdachverband (UWD, Environmental Federation) criticizes sharply the energy policy of the Austrian Government. Investments are made mainly in obsolete technologies
November 29, 2010
OMV Supervisory Board: Confirmation of Ruttenstorfer as CEO
Being accused to insider trading, the other members of the board as well as the supervisory board demonstrated to have confidence in CEO Dr. Wolfgang Ruttenstorfer.
November 25, 2010
OMV's Supervisory Board Supports CEO Ruttenstorfer
The allegations of insider trading made by the Financial Market Authority are uncomprehensible, says member of the supervisory board Norbert Zimmermann.
November 23, 2010
OMV Plans to Expand Further in Turkey
The Austrian oil and gas group is still assessing the best form of financing Petrol Ofisi. Further projects in Turkey are being evaluated.
November 22, 2010
OMV Sells 56 Gas Stations to PKN Orlen
56 gas stations in the German states of Thuringia and Saxony go to a subsidiary of the Polish oil group PKN Orlen.
November 19, 2010
Little Progress for Southstream
The Russian energy group Gazprom has difficulties with the Southstream pipeline project. The optimal path has to be found first.
November 18, 2010
Suspicion of Insider trading: Ruttenstorfer receives support
After the Vienna Public Prosecution's charges against OMV's CEO Ruttenstorfer, the latter now receives support. It is being said that he has merely been "clumsy".
November 18, 2010
OMV Announces Results of January – September 2010
Austria´s biggest company posts a strong operating performance compared to previous year.
November 10, 2010
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